Staples Owner Sycamore Partners Has Become Its Landlord Too
- Staples gave campus worth $150 million to Sycamore for free
- It will now pay at least $131 million in rent for the building
A vehicle drives past a Staples Inc. store in Clawson, Michigan.
Photographer: Sean ProctorThis article is for subscribers only.
Sycamore Partners can add another $150 million to the amount it has extracted from the office supply giant Staples Inc. since taking it private in 2017.
After taking some $1.3 billion in dividends earlier this year, the private equity firm has gotten its hands on another of Staples’s assets: its 650,000-square-foot headquarters in the Boston suburbs.